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Wednesday, October 23, 2019

CEO Insider

Best Countries For Entrepreneurship, 2019

As the home of Silicon Valley and global success stories from Google to Apple, the United States tops the global ranking of the best countries to be an entrepreneur. With a highly-skilled workforce, competitiveness and openness for business, as well as having easy access to capital for entrepreneurs, the U.S. rates highly across the board. The country comes first in the overall “best countries for entrepreneurship” index, 2019.

The Entrepreneurship Index, compiled by the CEOWORLD magazine, evaluates a total of 101 economies which collectively account for 95 percent of global gross domestic product. The overall ranking considers a wide range of factors to create an overall “best countries for entrepreneurship” index, including innovation, competitiveness, infrastructure, labor skills, access to capital, and openness for business.

Starting a business anywhere takes grit, determination, and a marketable idea, but certain economies make it just a little bit easier for entrepreneurs to get off the ground. If you’re looking for the best country to build a business, you may not have to look far.

What are the most entrepreneurial countries in the world?

The United States has been recognized as the world’s most entrepreneurial country, according to the CEOWORLD magazine Entrepreneurship Index, 2019, while the United Kingdom and Israel placed second and third, respectively.

The 2019 rankings placed Poland in fourth ahead of Malaysia into fifth; while the United Arab Emirates ranked sixth, and Sweden seventh.

Overall, among the top 10 most entrepreneurial countries, the eighth, ninth, and tenth positions are held by India, Germany, and Spain. France took the No. 11 spot, followed by Australia (No.12) and Estonia (No.13).

Meanwhile, Ireland ranked No. 14 in the CEOWORLD magazine’s ranking of the world’s most entrepreneurial economies for 2019.

The Philippines came in fifteenth place, followed by Denmark (sixteenth), Switzerland (seventeenth), Saudi Arabia (eighteenth), and South Korea, ranked nineteenth.

Out of 100 best Best Countries For Entrepreneurship For 2019, Canada ranked No. 20th. European countries continue to dominate the overall rankings in the CEOWORLD magazine Entrepreneurship Index 2019, accounting for five of the top 10 and ten of the top 20. Does this ranking surprise you?

RankCountryScoreInnovationCompetitivenessLabour SkillsInfrastructureAccess To CapitalOpenness For Business
1United States42.882.192.5845.7338.74360.340.21
2United Kingdom41.051.941.8149.2455.27325.920.31
3Israel35.81.431.5649.3764.25290.140.34
4Poland34.256.16.6516.415.05358.270.28
5Malaysia31.013.072.6132.638.27487.040.21
6United Arab Emirates29.751.131.3849.5272.57178.650.56
7Sweden29.015.015.419.9518.51489.340.16
8India28.162.423.4841.3628.72357.950.28
9Germany25.472.032.1149.1647.46490.720.09
10Spain25.344.45.6822.7317.6279.990.36
11France25.052.713.0836.9532.49221.160.45
12Australia24.644.394.1822.7823.91320.30.31
13Estonia24.373.883.9125.7425.592060.49
14Ireland23.62.482.840.2835.65150.130.67
15Philippines22.985.743.7117.4326.93226.080.44
16Denmark22.433.23.6431.2627.45165.380.6
17Switzerland21.81.421.8249.6154.91151.830.66
18Saudi Arabia21.622.572.3838.942.01127.420.78
19South Korea21.422.953.5133.8728.46145.20.69
20Canada21.343.773.8526.5425.99241.790.41
21Singapore21.245.085.4819.718.23193.20.52
22Taiwan20.713.614.0127.7224.92241.350.41
23Japan20.054.234.4523.6622.49239.750.42
24Belgium20.045.065.1119.7719.58206.010.49
25Italy19.923.814.7926.2320.89203.210.49
26New Zealand19.735.855.6417.117.72223.430.45
27China19.722.522.6839.6237.28140.290.71
28Austria19.462.733.136.6732.25147.320.68
29Portugal18.554.054.6624.7121.48222.810.45
30Chile18.324.555.7221.9817.47112.060.89
31Czech Republic18.252.322.9443.0734.05130.750.76
32Mexico18.054.794.4920.8822.29141.680.71
33Thailand17.413.163.4931.6628.61113.930.88
34Colombia17.375.545.5218.0518.12225.030.44
35Bulgaria17.374.834.7920.720.88221.860.45
36Serbia17.223.265.0830.6719.7106.180.94
37Brazil17.163.244.8730.8520.54105.090.95
38Romania16.963.813.1926.2631.39243.780.41
39Hungary16.764.355.4622.9918.3135.330.74
40Netherlands16.553.273.330.5630.32114.40.87
41Indonesia16.43.764.2926.6323.3198.340.5
42Greece16.252.542.7139.3636.8797.081.03
43Turkey16.192.732.6136.6938.32175.680.57
44Argentina162.182.7845.8636.01128.410.78
45Latvia15.423.954.7625.2921.03226.520.44
46Norway15.235.425.418.4618.53192.30.52
47Cyprus15.24.114.424.3322.72151.840.66
48Slovenia15.125.86.0417.2516.56166.310.6
49Slovakia15.056.327.3315.8213.65296.630.34
50Croatia14.964.416.3822.6815.68251.950.4
51South Africa14.953.613.7527.7226.7106.530.94
52Kenya14.865.495.418.2218.53183.490.54
53Luxembourg14.84.874.7420.5221.1230.470.43
54Russia14.793.84.2726.323.44115.910.86
55Belarus14.713.583.8727.9725.8590.181.11
56Nigeria14.653533.3720.02114.680.87
57Peru14.653.583.8327.9226.08112.960.89
58Iceland14.545.136.319.515.86134.950.74
59Qatar14.412.683.0837.3432.4789.621.12
60North Macedonia14.44.925.1220.3319.51174.220.57
61Georgia14.326.666.4615.0215.48195.270.51
62Armenia14.234.224.1823.7223.92102.520.98
63Malta14.26.256.4516.0115.52274.380.36
64Rwanda14.116.288.2815.9312.07278.780.36
65Morocco14.076.186.0916.1716.42163.430.61
66Moldova145.865.6217.0517.79140.510.71
67Azerbaijan13.874.163.9424.0625.3597.481.03
68Finland13.863.953.9625.3125.26114.610.87
69Kazakhstan13.844.34.6823.2821.37191.880.52
70Puerto Rico13.596.978.3914.3411.92271.860.37
71Uruguay13.577.57.7813.3312.86176.690.57
72Vietnam13.552.963.7833.7726.49171.340.58
73Jordan13.533.153.4431.729.07149.860.67
74Tunisia13.443.063.4732.7128.7982.891.21
75Ghana13.383.53.3628.5829.7791.731.09
76Ecuador13.385.597.0517.8814.1885.411.17
77Bahrain13.352.73.7437.0826.73150.820.66
78Sri Lanka13.344.294.3323.2923.08156.670.64
79Dominican Republic13.343.523.3628.429.77104.160.96
80Lithuania13.186.65.6915.1517.56199.560.5
81Ukraine13.164.524.7722.1520.9883.091.2
82Lebanon13.165.736.7217.4514.89154.120.65
83Iran Islamic Republic of13.062.832.9135.3834.4174.791.34
84Cameroon12.994.344.8923.0520.4793.621.07
85Egypt12.913.74.6227.0421.6291.391.09
86Albania12.854.74.7221.2721.17150.830.66
87Costa Rica12.85.144.9319.4520.27149.30.67
88Bangladesh12.662.843.2135.2731.12142.70.7
89Jamaica12.655.825.8517.1717.11210.210.48
90Botswana12.594.764.4121.0322.68111.480.9
91Trinidad and Tobago12.594.374.6822.8921.39151.160.66
92Paraguay12.594.384.4422.8122.5473.441.36
93Bolivia12.523.894.1925.7323.8978.221.28
94Algeria12.394.264.9123.4720.3791.871.09
95Ethiopia12.324.284.8823.3720.590.171.11
96Zambia12.285.125.0419.5219.85148.10.68
97Pakistan (Islamic Republic of)12.273.715.1126.9519.5675.331.33
98Uganda12.274.434.3922.5722.8100.051
99Venezuela12.244.465.0722.4419.7376.551.31
100El Salvador12.183.793.8426.3826.0189.941.11

Note:
* The overall score is numerical scores given to the countries. To establish our list, we collected information and statistics from publicly available sources, research, and survey. The rankings are based on seven major metrics. Overall Score (50 possible points) is the sum of:

  • Innovation (out of 10 possible points)
  • Competitiveness (out of 10 possible points)
  • Labour Skills (out of 50 possible points)
  • Infrastructure (out of 100 possible points)
  • Access To Capital (out of 500 possible points)
  • Openness for business (out of 2 possible points).

* This ranking should not be viewed as the most important aspect when choosing a place to build a business, and are merely one element to consider.
* The rankings are the result of a rigorous analytical exercise, incorporating multiple data sources, without relying on investment promotion agencies (IPA) and Government Industry trade data submissions.
* Detailed survey data and information collected directly from 180,500 individuals (CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide), across 6 data points.
* CEOWORLD magazine conducted its survey from early March 2019 to mid-July 2019.
* Magazine invited 180,500 individuals from 46 countries to participate in this year’s study.
* The margin of sampling error for the full sample of 180,500 respondents (CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide) is plus or minus 1.2 percentage points. In addition to sampling error, one should bear in mind that as in all survey research, there are possible sources of error—such as coverage, nonresponse and measurement error——that could affect the results.


Have you read?

# Best CEOs In The World 2019: Most Influential Chief Executives.
# World’s Best Countries To Invest In Or Do Business For 2019.
# Countries With The Best Quality of Life, 2019.
# Most Startup Friendly Countries In The World.
# Global Passport Ranking, 2019.


The views expressed in this article are those of the author alone and not the CEOWORLD magazine.
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Alexandra Dimitropoulou
Deputy executive editor at the ​CEOWORLD magazine. Writer, internet person, professional restaurant recommender, and native New Yorker. Passions: health & wellness, coffee, running & dogs.
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